New Look postpones IPO plans

Timing isn't right says retailer, as float plans are shelved.
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A fast growing outlet for licensed apparel ranges, fashion retailer New Look has shelved plans for an IPO.

The chain had been hoping its float would give it an enterprise value of £1.7-£1.8 billion, according to the Financial Times.

It is believed that investors were nervous of the £450 million of debt that New Look would have had as a listed company.

New Look chief executive Carl McPhail said in a statement: "We have taken the difficult decision to postpone the initial public offering as a result of the considerable volatility in the equity markets. We remain convinced of the strengths of the New Look business and its suitability as a public company. We will re-evaluate our options when market conditions improve."

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